Trending stocks: Max Financial Services shares down over 2%

NEW DELHI: Shares of Max Financial Services traded 2.37 per cent down in Wednesday's trade at 10:57AM (IST). Around 57,224 shares changed hands on the counter.

The counter opened at Rs 422.1 and touched an intraday high and low of Rs 431.45 and Rs 413.3, respectively, in the session so far. Shares of the company of Max Financial Services Ltd. quoted a 52-week high of Rs 611.05 and a 52-week low of Rs 279.75.

Total market cap of the Max Financial Services Ltd. stood at Rs 11389.47 crore at the time of writing this report.


The company reported a steep 96 per cent plunge in consolidated profit after tax to Rs 6.67 crore for the January-March quarter 2020 due to the impact of a tax dispute settlement and the coronavirus pandemic. The company had registered a profit after tax of Rs 199.91 crore during the January-March quarter of the previous fiscal year.

The company reported consolidated sales of Rs 4264.06 crore for the quarter ended 31-Mar-2020, down 20.53 per cent from previous quarter's Rs 5365.68 crore and down 40.15 per cent from the year-ago quarter's Rs 7124.47 crore.

Shareholding pattern
As of 31-Mar-2020, DIIs held 27.15 per cent stake in the company, while foreign institutional investors held 30.61 per cent and the promoters 28.31 per cent.


Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 78.55 and a price-to-book ratio of 4.02. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Max Financial Services Ltd. belongs to the Insurance - Life industry.